01 March, 2008
A Will is your opportunity to say how your assets and affairs should be dealt with if anything happens to you. This can include important things such as who will be responsible for your children or a business. A Will is a way of putting your affairs in order and making things easy for those left behind. If there is no Will it can leave relatives very confused and uncertain about what will happen and how they will be provided for, at a time when they are most vulnerable. If you do not make a Will then there are set rules for distributing assets - a spouse or civil partner does not necessarily inherit everything and children may inherit at a much younger age than you would want. A Will can also be used to arrange your affairs to provide for young children or vulnerable adults (whether disabled, wayward or going through marital problems), to plan for long term care or to save inheritance tax. It can also be invaluable in situations where people have re-married and want to provide for a new spouse whilst still ensuring that assets ultimately pass to their children.
The importance of making a Will cannot be underestimated. Most people are aware of the need to make a Will but put it off because they think that it will be difficult, expensive or because they do not want to tempt fate.
Many people have insurance policies to safeguard their assets or to provide for their family if anything were to happen. Making a Will is another way of providing peace of mind and reassurance for you and your family."
This comment appeared in Lancashire Life March edition.